Investor's Edge with Gary Kaltbaum - Hot Open But!

Episode Date: February 27, 2023

Follow Gary on GaryK.com or http://garykaltbaum.com

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Terms apply. Lounge access is subject to change. See Capital One.com for detail. Investor's Edge with Gary Coltbaum. Straight talk about you and your money. Now from the BizTalk Studios, here is Gary Cultbaum. And welcome once again to Investors Edge. I'm Gary Colbom, your host.

A thanks of being with us today. Glad you here, ladies and gentlemen. Happy that you are listening. It is February 27, 2023. Here to talk about everything that affects you. Everything that affects you. Serious talk on you. your money, the markets, the economy, jobs, your jobs, employment, taxes, deficits, scams, shams, corruptions.

You name it, we cover it with no bias, no agenda, no ulterior motive. We can't stand any of them. You know we're in nobody's camps. But first, if you do not get this radio show in your city, we'll post it at garyk.com. We'll also post it on our Twitter feed. And if you like to follow us on Twitter, just go to Twitter, put our name in, or press the button at garyk.com. You can email us. Just be nice.

You got that? It's simple. Just be nice. Hope you had a good weekend. I was in New York City. I went from 20 degrees up to 87 degrees in Florida today. Man, is it nice? And if you don't know me by now, I love hot weather.

I'm going to Dubai at the end of August. That's how much I love hot weather. Late August, right around Labor Day. I hear it's still hot. Anyway. Hope you're having a good day. Again, we do have lots to cover. You know, every now and then, things just pop up.

You know what we mean by that? Things just pop up. Things I read about. things that stick out like on Thursday. I've got to repeat this because I didn't make a dime off of it. I didn't make a dime off of it. On Thursday, I came on the show and I said to you, you know, I noticed something, something that doesn't happen often

and most happens at extremes. And when we're talking about extremes, we're talking about in the markets, extremes. And what do we mean by that? Well, at the highs, jubilence, excitement, the feeling of being omnipotent, nothing can go wrong, price is just going to keep going higher no matter what.

At the bottom, depression, get me out of the market. I don't want to deal with this ever again. at the bottoms interesting or near the bottoms media reports on the crash

or the drop and on Thursday I just happen to say I just want to let you know that something I have hardly talked about in months in months in months

natural gas it crashed the price of natural gas crashed from August till last week and what I noticed on Thursday

they were now reporting the crash who's they media all of a sudden it's now a crash obliterated, destroyed. And all we said to you was that usually marks a low or close to it. It's never pinpoint. And from Thursday's close of $8.7 on the UNG, which is, you know, exchange traded fund for natural gas.

$8.7 to $8.96 in two days. Last I look, that's what? 11% and I'm not trying to act like look at me how smart I am which is letting you know on Thursday there are certain things that just pop out hit us in the forehead and we just noticed that Thursday and we figure we just tell you now let's keep in mind the main trend in natural gas is down we think what's going on here it's just very stretched away you know how we talk about stretched away from the norm on a near-term basis, we just think you're getting one of those counter trend stretched away rallies. I just find it quite amazing and not amazing.

It's up 11% since that came out. And let me repeat it again. After big drops, and they already dropped a ton, when it gets reported, you're getting close to a low. And on the upside, you know what was going on with the crypt,

and the meme stocks and all that crap. You remember that? What happened around those times? Oh, breathless. And of course, they all crashed. So I just wanted to start with that. I wrote that out. Let me tell you another thing I want you to be careful about.

So here's another thing that we see. Back in 99, the miscreants on Wall Street. Go look up the word. We use big words every now and then. The miscreants on Wall Street that were not taking part in the internet boom. Well, let me tell you what they did. Mutual funds change their name from technology funds to internet funds. Companies, this is true.

Added.com to their names. I'm not making this up. That's what they did. Do you know what I'm noticing now? What's the hot thing going right now? You know what's going on, right? AI, artificial intelligence. You know what I'm noticing?

A bunch of down-and-out companies now announcing, oh, we're going to get involved in artificial intelligence. The miscreants. You know what the latest is? What's one of the stocks that has been destroyed the most? in the last year and change. You know what? Snapchat, SNAP. The stock has only gone from $83 and $34 to $9.88.

They announced some artificial intelligence crap today. They're not the first. Be careful of that. You got that? Be careful. Be careful. Be careful. Be careful. I'm begging you to be careful. Miscreants, look up the word. It's apropos for what goes on Wall Street. Many a day. In many a company. In many of the people. I expect more, not less of this.

And we'll name names. We'll have no problem name and names. Next. I don't know Well, I do know Kathy Wood with the ARC funds that are still down 70% Over the last two years Got another interview today to tell you Bitcoin will be above a million over the next decade

So all of a sudden she's changing her bull crap stance She's been saying by 2030 now decade It means we'd have to go up by 2030 60% a year every year all of a sudden she's saying artificial intelligence and robotics will be the areas of technological innovation and blah blah blah blah blah she's blaming the markets for her losses remember we don't take on any of these people except we have to take on her because she's a miscreant if I was down 70% I would have my head in the sand she's out taking victory laps and making ridiculous predictions while she's down 70% in two years.

And it sickens the hell out of me. It depresses the hell out of me. The amount of money she is destroyed in two years. And unfortunately, others will be listening. Up next, market wrap. Other stuff. I'm Gary. This is the one only investors ad.

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Terms apply. Lounge access is subject to change. See Capital One.com for details. This episode is brought to you by Spreaker. The platform responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio. If this sounds familiar, you're probably already a podcaster.

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You're listening to. Hey, this promises to be fun. Investors Edge. The last bastion of quality programming. With Gary Coltbaum. It doesn't get better than this. And let me just say this. I cannot begin to tell you how depressing it is.

After all the money lost. After all the money lost. After all the money lost. Wall Street never changes its stripes. I just remember. it's important you remember in 08 there were certain places on wall street that were taking bad loans off their books before earnings and putting them back on after earnings and nobody got indicted by the way it was reported in the wall street journal and nobody did anything

and that's because of how connected wall street is to Washington DC just follow the money keep your feet on the ground put stops in place never lose big never listen to anyone who's down 70% in two years especially telling you that something's going to go let's see bitcoin price let's put this sucker up bitcoin price 23,346 it's going to be a million to make million a half by 2030 and now she says it looks like she changed her stands to a decade there ain't enough straight jackets or rubber rooms for these types of calls on a bunch of crap and it really pisses me off let me tell you what else pisses me off and then we'll get into markets and unfortunately

this stuff falls through the cracks because the media is complicit. In case you didn't know, President Biden took 36 billion of our tax dollars and gave it to the Central States pension fund

because of the pieces of crap that were running the fund into the ground. This is a union fund. This $360,000,000 retirees a lot of them teamsters I got nothing against teamsters hey terrific I got people I got something against the people who run it's a hundred thousand to each recipient we're giving them and you think it's a big deal to anybody any anywhere the president stole 36 billion of our tax dollars to give to her their friends from votes because of

mismanagement of pension funds and a Of course, their unions, the buddies. What do you call that? I would make fun. I would blast Hugo Chavez for doing that in Venezuela. It's happening right here in American. 36 billion of our tax dollars. Now let's put that in perspective, $36 billion that's going to pay off.

Hmm How many at-risk kids could that help? Kids that don't have enough food in their mouths? How many of those kids? Hmm? 36 billion. Joe Biden's nothing more but a life for creep. A life for politician creep.

Using our tax dollars to further his needs and gains in power just like the rest of him. By the way, he's no different. Well, what's the difference? between the last guy and the guy before and the guy before there isn't any that's how you get the 32 trillion of debt 36 billion of our tax dollars it's a payoff it's a payoff it's bribery

for votes keep the friends happy 36 billion and the reason why they're able to get it because nobody's reporting it nobody's pissed off and it doesn't really affect you and your day today doesn't affect you

you what you went to work today right you're going to get your paycheck you're going home to your family it's just a it's a day but it's now 32 trillion and we're heading towards a trillion of our tax dollars

is going to be going towards interest every year that they've created 36 billion to pay the pension funds by the way they did it with GM back in 2008 Remember they told you they saved the car industry? No, they saved GM's unions. Ford never took any money.

That's just another lie. We are getting so screwed by these people. I don't even know where to start. Trump has collected over $200 million from people, the public, claiming it's for his defense, for the stolen election when it's well known in circles around them he doesn't believe the election was stolen

it was a ruse and he's going to be running for president again we are so screwed I wish I'd better news it just comes under the heading I've never been more optimistic on most of us I've just never been more pessimistic on them

Joe Biden is handing 36 billion of our tax dollars just handing over friends. Ilhan Omar, Congresswoman, took 3 million bucks of our campaign funds and gave it to her husband's business. What the hell is that? I'll tell you what it is. It's legal in Washington, D.C.

It's nuts out there, kids. I'm getting very close to doing a separate show on all this. I don't know how I can find the time, though. It may have to be weekly. Just letting you know. And hopefully, we can spread that sucker far and wide. And hopefully one day we could get a couple of million people on the mall in Washington, D.C. in front of the capital. We got to stop them.

36 billion of our tax dollars to pay off their friends. Billion, not million. Up next to markets. Thanks of being here. This is the one to only investors' edge. This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect,

like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply, lounge access is subject to change.

See Capital One.com for details. This episode is brought to you by Spreaker. The platform responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio. If this sounds familiar, you're probably already a podcaster. The good news is Spreaker makes the whole process simple. You record your show, upload it once, and Spreaker distributes it everywhere people listen.

Apple Podcasts, Spotify, and about a dozen apps your cousins swears are the next big thing. Even better, Spreaker helps you monetize your show with ads, meaning your podcast might someday pay for, well, more microphones. Start your show today at spreeker.com. Sprinker, because if you're going to talk to yourself for an hour, you might as well publish it. This message is brought to you by the Capital One VentureX card. X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide.

The Capital One Venture X card. What's in your wallet? Terms apply. Lounge access is subject to change. See Capital One.com for details. Investors Edge He's got to be pleased with that The crowd is just on his feet here

He's a Cinderella boy With Gary Coltbaum It comes highly recommended You're going to feel better if you talk to him By the way I wasn't even This show today was going to be a lot Markets, none of that

But as I was starting I got the thing on the interview And this other thing Let's segue The Market Wrap is brought to you By investment dash models.com that's Jim Moraback, one of the great market timers. No gray areas with the man you're either in or out of the market was proprietary indicators.

Go check it out. Investment dash models.com. Well, so, the Dow was up 72. It's not the story. The S&P was up 12, not the story. The NASDAQ up 72, not the story. NASDAQ 100, up 88, not the story. The SOX was up 16, not the story.

The transport up 195, not the story. The story is, and just want you to listen carefully, the Dow today, just a little bit after the open, was up. I want to make sure I get this number right. 111 and 189, that looks like 300. Right? Add 72. The Dow was up 372 points today and only finished up 72, and actually, with a few minutes to go, was. actually went red.

At about 338, it went red. Let me make sure I got this known. 33-189, that's 189, minus 111, 189. The Dow was up 372 points today and finished only up 72. I'll get to my point in a second. The S&P 500 today hit 4,018. Was up 20. Oh, excuse me, 18, 18, 36, was up 48, finished up 12.

The NASDAQ today, 115, 65, 100, was up 172, finished up 72. The semiconductor index was up 2896, so that's 45, was up 61, finished up 16. And by the way, the strength was at the open. Now, it's only one day. But what have we taught you? What have we told you? What have we explained to you? hot opens and bad clothes are not good that's all especially after a real ugly last week or two

hot open crappy clothes though a little bit off the lows we we again at 338 we were down a point and then they bumped it up but up 372 and let's define this let's describe this because again it's just the day but opportunity for the big institutions to bounce the market after a bad last week and they open it up hot and they sell it off and leave no doubt I know people talk retail this and that these are institutions distributing stock into hot opens we don't want to see more of that you got that hot opens bad What you'd really like to see now, you don't need to see bad opens, end up good, just flat the down.

Show accumulation. So we're going to put this down in a loss column today, though we finished up 72 on the down and 72 on the NASDAQ. That's what we'll give it. Yields were down today. The dollar was down today. That helped to finish. where things were but just overall I'll call it a disappointing day and for somebody that's always looking for the light at the end of the tunnel now I will

speak of a few things here you know how we've been telling you to avoid oils but there's been some things percolating in the oil patch we have told you how the oil explorers are acting terribly but I must tell you there's a group of the drilling deep water type stuff when you have a chance go look at symbol oh I I go look at Td W.W it's shipping and vessels and things like that go look at WFRD, equipment and some of these things even heard of that are popping up on my screen p a rr a refiner or a simple tn k pipelines pipelines they're doing really well simple tk pipelines pipelines how about p aa pipelines so just letting you know what's it work there beats the hell out of me just letting you know there's this

area in the energy complex that's really sticking out here. It's a sore thumb in a sea of pinkies. So I had to highlight that for starters. We're pretty much past most of earnings season. There's more earnings coming out, but you know the big guys, Hedahancho Top Dog's Big Cheese have pretty much all reported. There's a few more outliers. But we don't know about market moving. Also today I have to mention here's one. Union Pacific. The rail stocks have been dead, up 18 today because they announce the new CEO coming on board. That's a big wow that would go up 9% on a new CEO. What does that say about the last CEO? So I want to let you know about that. And that helped the transports today, but the transports were also up.

much higher they hit today 14 97 was up 340 finished up 195 distribution so when you see futures in the morning you know what you really want to wish for right now not hot opens it's just a characteristic on a short-term basis on a daily basis I just want to be careful about. And boy, oh boy, at 38, 338 Eastern time today, the Dow was actually down a point after being up 370. And the NASDAQ, I think, was, I think it worse, was up 50. Finished up 72. As I've been scanning, I'm just going to use the word mushy. Markets are mushy in here. Hopefully they get better. The new yearly high list. I must tell you, there are.

Tankers and shippers of oil and refiners of oil. I'm just looking right now at the New York. Besides that, reliance steel is steel stock? GE with their big spinoff of the health care. Fresh Del Monte, they have nice fruit. That's kind of sort of it on the New York. Ingersoll Rand's. On the NASDAQ, the GE health care is in a new yearly high.

And I'm just looking down, Titan machinery, TITN. I'm looking low. That's about it on the NASDAQ. So still not a lot of leadership. And there were more new yearly lows on the NASDAQ than new yearly highs today. There were less new yearly highs, less new yearly lows than New Yearly highs on the New York. But we're going to throw this bad boy in the not-so-good column. You don't want to be up 370 on the down, finish up 70.

That is selling. Simple as that. And coming after the last week's yuck, not the greatest of news. Up next, what else? What else? This is the one only investors ad. This message is brought to by the Capital One Venture X card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect.

Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply. Lounge access is subject to change. See Capital One.com for details. This episode is brought to you by Spreaker.

The platform responsible for a rapidly spreading condition known as podcast brain. Symptoms include buying microphones you don't need, explaining RSS feeds to confused relatives, and saying things like, sorry, I can't talk right now, I'm editing audio. If this sounds familiar, you're probably already a podcaster. The good news is Spreaker makes the whole process simple. You record your show, upload it once, and Sprinker distributes it everywhere people listen, Apple Podcasts, Spotify, and about a dozen apps your cousin's swears are the next big thing. Even better, Spreaker helps you monetize your show with ads, meaning your podcast might

someday pay for, well, more microphones. Start your show today at spreeker.com. Spreaker, because if you're going to talk to yourself for an hour, you might as well publish it. This message is brought to you by the Capital One Venture X card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet?

Terms apply, lounge access is subject to change. See Capital One.com for details. You're listening to. What are we waiting for? Well, what are you waiting for? One, two, ready, go. Action! In the Gester's Edge.

With Gary Culper. If you have a chance this weekend, let's talk good. Warren Buffett had his annual letter this weekend. Man's an icon. The man's a mensch. It's proven it throughout the decades. And he's had his misfires. And he has something. You know, he's owned Coke forever.

And Coke really hasn't done much in 20 years. But before that, boy, oh boy. And that's what we call the law of large numbers. But the amount in dividends he gets, I hear like every year an Apple dividend. ends he gets like a bazillion dollars go read what he had to write and he took on some things about politicians blasting buybacks there's nothing wrong with companies buying back their stock of course if your Facebook and you started buying it 350 bucks and watch your stock go under

a hundred that's not good buybacks but they have every right to do whatever the heck they want to do and the shareholders will put up a vote on all that stuff go read uh warn Buffett I recommend it highly and my favorite business quote ever is the only when the tide goes out you learn who has been swimming naked that's apropos for a lot of things in many of the industries what else in the news Apple iPhones are winning over the 20 year olds okay fine one over probably everybody else too You know, we don't take this on too much. But the anti-vaccine and the vaccine and stuff like that,

there's a story out now about how natural immunity really works. They're right. It does. But the vaccine saved the world. All you've got to do is chart it. The vaccine saved the world. Those first ones that came out were just killing people left and right. Now the natural immunity for people that did not die, I mean, is huge. And fortunately, the later ones were not even near as bad.

Anyway, they're recognizing natural immunity, but that should have been known from the get-go. Here's interesting story. You know, everybody's blasting China. And I've even told you here, I'm never going to go back to visit China again. I just don't trust the government. How do you trust the government? Ready for this story? McDonald's, Ralph Lauren, Starbucks, Coach, Tyson Foods, Hormel, Tapestry, Kate Spade Brands.

They're all doing major expansions in China. You got that? Howard Schultz's Starbucks plans on opening 3,000 new stores by 2025. So when you hear all this talk about China being the worst people, well, not people, but the government, just remember businesses are going to flock where there are people that are going to spend. Just letting you know. I thought that was quite the interesting story of note. How many people who live in China? A billion change.

But man, oh man, that government. that government. Joe Manchin, another one I can't stand, another fake. He's no longer describing himself as a Democrat. He was asked in an interview and he said he's American, so he's off the Democrat thing, even though he gave Joe Biden that $36 billion to give to the pension fund. That was his vote.

So he's just another creep. That pretends to be moderate. But he says he's not a Democrat. He didn't say he's not a Democrat. He said he's an American when asked about what party he's in. That would be quite interesting. And I think we can end the news right there without depressing you even more. Most important point I want to make,

and we're here about the markets and we're here about guidance. We have no idea what tomorrow brings. But bad week, yes, last week. week on top of not so great the week before and to add to the equation to open up be up 370 finished up 70 on the Dow the NASDAQ 170 finished up 70 socks up 60 finish up 16 that is what is known as distribution so we think institutions are still not thrilled right here if anything changes we'll let you know. And when you get these type of days on top of last week,

what do we tell you about patterns? The roadmap. They play themselves out. It's our job to read those roadmaps. So not a great day. But as we said, we highlighted some of the, I mean, pipelines for oil, shippers. That's leadership right now in this market,

while so many other areas are losing. the leadership. New yearly highs. Just remember, great markets have great amount of new yearly highs with stocks just pumping away to the upside. I probably count on a hand and a half, maybe two hands, of stocks that look like that. Most everything else playing catch up, there are other things that are on the strong side but not doing much. We're going to hope they bust out a range and get-go, the things that stand in the way remain interest rates the Fed what's next for the economy remember there's still a ton of people calling for big recession all kinds of crazy we'll see even us moi last week said I think in the next 90 days the employment situation is going to

change and that timing is everything Timing is everything. Whether that affects things or not, we don't know. We're just letting you know. It's really mushy in here right now. Complexion changed. And you don't want to see more days where we open up 370 and finish up 70. Or worse.

So you have a great evening drive carefully. And when you get home, do like we do. Quite simple. Make sure you hug your family. make sure you hug your children. They will feel better. You will feel better. I promise.

Not sure what TV I'm doing tomorrow. Have a great night, everybody. Stay well, be well. And always thanks for joining us. Bye-bye. This has been Investor's Edge with Gary Cult Bomb on BizTalk. To listen to past episodes or to get in contact with Gary, go to GaryK.com. That's GaryK.com.

This message is brought to you by the Capital One VentureX, Card. Venture X offers the premium benefits you expect, like a $300 annual Capital One travel credit for less than you expect. Elevate your earn with unlimited double miles on every purchase, bringing you one step closer to your next dream destination. Plus, enjoy access to over 1,000 airport lounges worldwide. The Capital One Venture X card. What's in your wallet? Terms apply. Lounge access is subject to change. See Capital One.com for details.